Snap gets brief bounce on report suggesting it look at sale

Shares in Snap (SNAP-1.3%) spiked briefly out of the doldrums a short bit ago after publication of a report in The Information suggesting "Why Snap May Want to Sell Soon."

The spike dissipated quickly, though. Shares have dipped below the $20 mark for the first time since March 21.

The company's current course may not be tenable any more, in an environment where Facebook (FB+1.4%) is determinedly copying Snapchat's distinctive features and adding users while doing so, the report says.

That leaves it with two paths: diversify in the near term, or sell (and it suggests Walt Disney (DIS+0.5%) as the most interesting possibility among potential buyers).